Annamalai Announces New Political Outfit, Triggers Mass Resignations From Tamil Nadu BJP | Top Points
Annamalai said his political ambitions extended beyond the framework of BJP and required a broader platform.
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Annamalai said his political ambitions extended beyond the framework of BJP and required a broader platform.
India has never followed any diktat from abroad: Putin at SPIEF
Though programme banner carried the images of Thiruvananthapuram Mayor V.V. Rajesh, who was supposed to inaugurate the event, Mayor and Corporation distanced themselves from it
India has never followed any diktat from abroad: Russian President Putin at SPIEF
GQG Partners has pared its holdings in two Adani Group companies through block deals worth about Rs 5,750 crore, with SBI Mutual Fund emerging as the buyer of the entire stake on Friday. According to NSE block deal data, GQG Partners Emerging Markets Equity Fund sold shares in Adani Enterprises and Adani Energy Solutions.The larger transaction involved 1.64 crore shares of Adani Enterprises sold at Rs 2,913.4 apiece, translating into a deal value of about Rs 4,789 crore. In a separate transaction, GQG sold 63.66 lakh shares of Adani Energy Solutions at Rs 1,504.8 per share, amounting to around Rs 958 crore.Together, the two transactions were valued at about Rs 5,747 crore. The shares were acquired by SBI Mutual Fund at the same prices through corresponding block deals.The stake sale comes after a strong run in Adani Group stocks over the past year, during which several group companies recovered sharply from the volatility that followed allegations made by US-based short seller Hindenburg Research in 2023.GQG had emerged as one of the earliest large institutional investors to back the Adani Group following that episode. Beginning in 2023, the fund manager invested billions of dollars across multiple Adani companies, helping restore investor confidence at a time when foreign institutional participation in the group had weakened.Since then, Adani companies have focused on deleveraging, strengthening cash flows and improving operational performance. Several group entities have reported healthy earnings growth, while execution across infrastructure, energy and transport businesses has remained strong.The latest transaction will be viewed by market participants largely as a portfolio rebalancing exercise rather than a change in the fund's broader investment thesis on the group.Adani Enterprises, the flagship incubator of the conglomerate, houses businesses spanning airports, roads, green hydrogen, data centres and mining services. Adani Energy Solutions is one of India's largest private-sector transmission companies and is expanding its presence in smart metering and distribution infrastructure.Shares of both Adani Enterprises and Adani Energy Solutions are likely to remain in focus as investors assess the implications of the stake sale and changes in institutional ownership.
Envisioned by Sadhguru, the broader Save SoilโCauvery Calling initiative aims to facilitate the planting of 242 crore trees on farmlands across the river basin
New Delhi: State-run oil companies will sell E85 fuel โ a blend of 85% ethanol and 15% petrol โ at a discount of Rs 20 per litre to offset the biofuelโs lower energy content, Oil Minister Hardeep Singh Puri said on Friday after inaugurating an E85 dispensing facility at a Delhi petrol pump.The government plans to roll out E85 fuel in phases, with 500 fuel stations targeted by the end of this year and 5,000 by the end of 2027 across India, Puri said.Indian Oil already has a network of 400 fuel stations that can dispense E100 fuel, or pure ethanol with no mix of petrol, across Delhi, Uttar Pradesh, Maharashtra, Karnataka, and Tamil Nadu.Also Read: India to launch E85 fuel today in push for flex fuel mobilityEthanolโs energy content is about one-third lower than that of petrol. To compensate for this, E85 users will receive a Rs 20 per litre discount compared with E20, the regular fuel blend sold across the country that contains 20% ethanol and 80% petrol.The E20 blend will continue to be available at all fuel stations, as most vehicles currently on Indian roads can use blends of up to 20% ethanol.In recent days, Maruti Suzuki and Hero MotoCorp have each launched one vehicle model capable of running on E85 fuel.The simultaneous rollout of compatible vehicles and fuel dispensing infrastructure will help accelerate E85 adoption, Puri said, adding that there was a โpretty compelling caseโ for shifting to E85 because it would be cheaper, lower emissions and reduce dependence on fuel imports.
Following K. Annamalai's resignation from the BJP and announcement of a new political movement, significant fallout has hit the Tamil Nadu unit. State vice president Karu Nagarajan and 15 other officials, including state secretary Sumathi Venkatesh, have also quit. Annamalai cited differing visions and a desire for a broader platform, while the state BJP president downplayed the impact.
World leaders, including US President Donald Trump, had congratulated PM Modi for BJP's historic victory in West Bengal, where it ousted TMC's 15-year reign.
Former Australia captain Michael Clarke was involved in a serious road accident in India shortly after the IPL 2026 final. His vehicle crashed into a semi-trailer, leaving him with bruises and the car written off. Clarke expressed gratitude for the support from locals and the BCCI following the frightening incident.
As India sees incessant FII selloff so far this year, the government and RBI announced a slew of measures to ease foreign investments in government securities, with analysts suggesting that these may provide some short-term support for Dalal Street.India scrapped the long-term capital gains tax on investments by foreign institutional investors (FIIs) in government securities through an ordinance issued on Friday. The government has now exempted FIIs from tax on any interest income from government securities, as well as capital gains arising from their sale, exchange or transfer, according to an official gazette. Separately, while announcing the outcome of the MPC meeting, RBI Governor Sanjay Malhotra also unveiled a series of measures to boost FPI investments, including expanding the Fully Accessible Route (FAR) to cover new issuances of 15-, 30- and 40-year government bonds.Limits on investments by NRIs and OCIs in equity instruments without Sebi registration are being raised, allowing them to invest larger amounts without regulatory registration. The facility is also proposed to be extended to all Persons Resident Outside India (PROIs), bringing them on par with NRIs and OCIs. This came as the RBI kept the repo rate unchanged at 5.25%What does this mean for Indian stock market?The proposal to increase investment limits for NRIs and OCIs in listed equity instruments without Sebi registration, and to extend the same facility to all individual Persons Resident Outside India (PROIs), is a significant step toward broadening participation in Indian capital markets, which is expected to improve market depth, liquidity and long-term capital inflows, said Arun Poddar, CEO of Choice International.He highlighted that equally important is the removal of capital gains tax on government securities investments for foreign investors. โThis move strengthens the attractiveness of India's bond market and could encourage greater foreign participation in government debt. At a time of heightened global volatility, these measures reinforce investor confidence, support capital inflows, and reaffirm India's commitment to building deeper, more globally integrated financial markets, with the policy rate expected to remain low for an extended period,โ he said.The government's move to exempt Foreign Institutional Investors (FIIs) from capital gains tax on any interest earned from government securities is โhighly positiveโ for the capital markets, said Sumit Singhania, Head of Research at Bajaj Broking. โThis fiscal cushion arrives at a crucial time, offering a strong shield to domestic markets as the RBI chief warned of volatile forex markets driven by shifting global sentiments,โ he added.The policy is distinctly positive for bond markets and well-capitalized Banks and NBFCs, which benefit from targeted hedging subsidies and systemic stability, according to Archit Doshi, Senior Vice President at PL (Prabhudas Lilladher) AMC. โConversely, one should be underweight rate-sensitive sectors, which remain highly vulnerable to margin compression, higher inflation expectations, and the threat of the RBI reaching its tightening tipping point,โ he said.Rajeev Radhakrishnan, CFA, CIO of Fixed Income at SBI Mutual Fund, also said that the announcements aimed at enabling more dollar inflows are more significant in the near term, even though the overall policy stance has been broadly in line with expectations. โThe concessional swap facility should help stabilise short end market rates and the foreign exchange market in the near term,โ he said.For equities and debt markets, the measures to attract FII inflows are supportive of liquidity and inflows, while for the rupee, they signal a clear intent to anchor expectations and reduce volatility amid global oil shocks and sustained foreign selling pressure, said Ajit Mishra, Senior VP of Research at Religare Broking.Sachin Bajaj, Chief Investment Officer at Axis Max Life Insurance, also said that the initiatives are expected to support capital inflows, deepen domestic bond markets, and provide support to the Indian rupee over the short to medium term.RBIโs hawkish tone and the Indian stock marketWhile the measures taken to attract FII inflows in the debt market will likely provide short-term support for Dalal Street, analysts advised caution over the RBIโs hawkish policy stance. While the RBI maintained its policy repo rate as per expectations, the tone was much more cautious than in previous meetings.Sachin Bajaj highlighted that the policy emphasised preserving macroeconomic stability amid the prevailing global macroeconomic environment. โWe believe there are significant risks to inflation in the coming months due to the pass-through of higher commodity prices to consumers and elevated food prices resulting from a below-normal monsoon. Going forward, there is a risk of an upward revision in inflation projections, and given the evolving global backdrop, we believe the RBI is likely to maintain a prudent, data-dependent approach. Future policy actions will be contingent on evolving growth-inflation dynamics and global developments,โ he added.Also read: Explained: Sebi's Rs 15.15 lakh crore revenue inflation allegations against Rajesh ExportsWhile hawkish rhetoric without an accompanying rate hike provides a temporary respite for equity markets, it does not constitute an unequivocal endorsement of investment, particularly in highly rate-sensitive sectors such as real estate, automotive, and consumer discretionary goods, said Vipul Bhowar, Senior Director, Head of Equities at Waterfield Advisors.โShould inflation necessitate a rate increase later this year, these sectors are likely to experience pressure on both margins and demand. For investors, the current strategy emphasises capital preservation by focusing on high-quality equities with strong pricing power. This cautious approach is designed to navigate the prevailing geopolitical uncertainties until conditions stabilise,โ the analyst added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Google has recently laid off employees within its Cloud division, impacting its Threat Intelligence Group and Mandiant. This move, mirroring broader tech industry trends, sees the company reallocating resources towards artificial intelligence development. Google AI CEO Demis Hassabis, however, believes companies should leverage AI-driven productivity gains to expand, not reduce, their workforce.
Robinson, playing his first Test since February 2024, finished the day with figures of 4/10 from six overs as New Zealand ended the day still trailing England's first-innings total of 140.
Microsoft's Chief People Officer Amy Coleman shared employee survey results, highlighting increased employee "energized" and "empowered" feelings, alongside strengths in security and inclusion. However, challenges remain in opportunities for experience broadening, productivity support, and clarity on work's organizational connection. Coleman pledged greater transparency and communication amidst intense change.
Indian stock market traded in the green on Friday, with Sensex and Nifty extending gains for the second consecutive session as investors await the outcome of RBIโs Monetary Policy Committeeโs (MPC) meeting today.Sensex gained 270 points at 74,629.94, while Nifty 50 rose over 62 points at 23,478.95. This came as India VIX, which measures volatility in markets, fell over 2% to 15.89.Infosys, UltraTech Cement, TCS, Tech Mahindra, M&M and Maruti Suzuki shares gained over 1% each to lead gains on Sensex. Tata Steel shares meanwhile fell over 1% to lead losses on the benchmark index.Broader markets also traded in the green, with Nifty Smallcap 100 and Nifty Midcap 100 indices gaining over 0.3% each. All sectoral indices opened in the green, with Nifty Consumer Durables, Nifty IT and Nifty Media rising nearly 1% each. Around 1,824 stocks advanced on NSE, while 523 declined and 101 remained unchanged.Whatโs moving the stock market upward today?"There are some mild positive indications for the market today. There are signs of weakness in the AI trade in the US, South Korea and Taiwan and rotation away from tech stocks, but it is too early to say whether this will sustain,โ said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.The focus of the market today will be on the monetary policy and the message from the RBI Governor, the analyst said. โThe MPC is likely to hold rates with a guidance of a rate hike later in the year to combat inflation which is expected to rise in H2 FY27. RBI is likely to revise the GDP growth for FY 27 downward and CPI inflation upward in the context of the energy shock and its implications,โ he added.According to Vijayakumar, the most likely policy action is a โhawkish holdโ, that is, the RBI would hold the rates without any change but would send a hawkish message that inflation is set to rise and, therefore, expect rate hike later this year. If the RBI decides to act now with a 25 bps rate hike, that will move the banking stocks sharply upwards since they would benefit from rate hikes, he further said. However, a rate hike would be negative for interest elastic segments like automobiles and real estate, the analyst added.Rupee risesRupee meanwhile gained 8 paise to 95.66 against US dollar in early trade. โWith India's import bill under pressure from elevated commodity prices and continued FII outflows, participants will closely monitor the Governorโs commentary for cues on inflation, currency stability, and future policy direction,โ said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities.The analyst expects the near-term range for rupee to be 95.25โ96.25.FII selling continuesForeign investors continued to remain bearish on Indian markets. FIIs net sold Indian shares worth Rs 4,447 crore on Thursday, according to data on NSE.Notably, FIIs have remained net sellers of Indian equities for five consecutive sessions. (With inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Dr. Jaishankar highlights the finalisation of the India-U.K. Comprehensive Economic and Trade Agreement, the adoption of a comprehensive strategic partnership and the defence industrial roadmap as major achievements
Labourer, sleeping on road, dies after soil for UP road project 'dumped' over him
Four people arrested in connection with abduction conspiracy targeting former Karnataka MLC after a road accident in December 2025.
Highways Minister Nitin Gadkari is exploring cement concrete roads over bituminous ones due to a surge in bitumen prices and supply disruptions from the West Asia conflict. He also highlighted the potential of domestically produced bio-bitumen from rice straw and other biowaste to reduce imports and save foreign exchange.
US President Donald Trump expressed optimism about reaching a trade agreement with India soon, stating that the previous trade imbalance has now reversed. Both nations have been engaged in constructive negotiations, aiming to finalize an interim trade pact while broader discussions continue. Despite ongoing talks, concerns remain regarding potential US tariffs on imports from several economies, including India.